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Value Engineering

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The definition of value

V = F / C                                    (1)

where

V = value

F = function

C = cost

is the key to Value Engineering

Improving the function, reducing the cost, or both - will increase the value.

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Related Topics

Miscellaneous

Engineering related topics like Beaufort Wind Scale, CE-marking, drawing standards and more.

Process Control Systems Documentation

Documentation of process control systems - Block Flow Diagrams (BFD), Process Flow Diagrams (PFD), Piping and Instrumentation Diagrams (P&ID) and more.

Related Documents

Cash Flow Diagrams

The future value of money.

CE Marking

Verifies that a product is designed to the appropriate standards according the European Machine Directive.

Contract Types

Commonly used engineering and construction contracts.

Inflation Rate

Future value of money vs. inflation.

Internal Rate of Return - IRR

Internal Rate of Return (IRR) - the break-even interest rate.

Markup and Gross Profit

Profit vs. markup.

Net Present Worth (NPW) of a Cash Stream

The value of a stream of payments is called the Net Present Worth (NPW).

Present Value

The value of money in the future is the Present Value.

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